Sdx Energy Share Discussion Threads

[neo26] 11/7/2019 09:43

HaiderYou being disingenuine, we are know you were past holder. You have likely lost money and will have negative opinion on sdx. Understandable...I said cashflow not free cashflow as they are spending on the company. They spent significant amount in Morocco drill program last year, did more 3d in egypt and Morocco and have invested in sd pipeline which is paid for.Now they can reap the award.All i know if someone new came on this board and had no agenda this would be screaming buy based on current fundamentals. 37m mkt cap!!#####Imho

[haideralifool] 11/7/2019 09:24

Neo that's what cash they had last year. Net result of all that huff and puff last year remains to be seen So unless they find a lot more than they're taking out we have a problem.

[neo26] 11/7/2019 09:13

RoflSo you think mkt cap of 20m justified on a company which produces 3700beopd, no debt, 11m cash in bank, generates 3.5m-4m cash flow per month, by dec will be producing over 8000boepd.You must be really stupid.

[pjj71] 11/7/2019 08:49

considering an entry if it holds today...

[rumobejo] 11/7/2019 08:38

mm will drag this down to single digit share price, so do your business as usual here

[shakeypremis] 10/7/2019 22:51

Tournesol, I'm saying it's just PI's and MM's dropping this. ~0.3% of total shares traded today. Very low volume. Yes, it could fall even further. Yes I do think SDX is good value at these prices.

[neo26] 10/7/2019 21:23

I can understand frustration but now its fallen to stupendous levels.37m mkt cap only for a producing company which has no debt. Produces 3700boepd and will be producing 8200boepd by dec.Trust me this aint fallin to 10p if it does put all your life savings in it. ;)

[tournesol] 10/7/2019 18:39

Shakey

...It's just PI's selling out through fear or frustration…

What are you trying to say? What's your analysis? Do you think SDX is a good investment at this price? Could it fall further? Is (Egypt + Morocco) a good business proposition?

It's about halved since I sold. Could it halve aqain?

[neo26] 10/7/2019 17:25

shakey

we are near bottom now im convinced. ;)

[shakeypremis] 10/7/2019 16:57

0.3% of shares traded today result in the drop. It's just PI's selling out through fear or frustration.

[neo26] 10/7/2019 16:48

there comes a time when you say this is ridiculous, yes the SD gas has been delayed, yes they failed to increase gas sales in Morocco but this company is still debt free has over $10m in the bank, and generating cashflow around $3.5m per month, over 45m per annum.

37m mkt cap, i think a takeover offer is coming around $70m. This will be cheap...

Nobody can predict the bottom but its getting ridiculous now.

UKOG and BLOE has larger mkt cap..

[neo26] 10/7/2019 10:30

:)From current levels..

[pjj71] 10/7/2019 10:28

double from what level though ??? 1p to 2p???

[neo26] 10/7/2019 10:00

I can say once the gas is online this will double. ;-)

[pjj71] 10/7/2019 09:06

this stock is a shorters dream,,,, every day it falls..

[shakeypremis] 09/7/2019 21:20

hxxps://www.sdxenergy.com/wp-content/uploads/2019/07/190620-Corporate-Presentation-July-2019.pdf

New presentation.

[captain james t kirk] 08/7/2019 15:00

Michael Raynes riding into the sunset might have something to do with that.

[haideralifool] 08/7/2019 14:33

Malcy's blog fails to mention that they are interpreting seismic in Egypt. Let's see how their plans come together in comparison to previous optimism.

[shakeypremis] 08/7/2019 14:07

He pulled the wool over the eyes of the rest of us too and possibly also the rest of the board and Waha. Although I'm not really sure how he would have been able to get away without the latter two knowing for so long.

[tournesol] 08/7/2019 13:04

I'm talking with the benefit of hindsight.

I was taken in by PW and am embarrased to say I believed him. I misjudged his character and competence. For which I take full resdponsibility. But the scales have now fallen from my eyes.

I'm writing in the spirit of

"Fool me once, shame on you.

Fool me twice, shame on me."

[ghhghh] 08/7/2019 11:21

I also wondered why Tournesol invested at a much higher price if Circle assets were so obviously tinpot.

[shakeypremis] 08/7/2019 11:04

Tournesol, I agree that the assets aren't top drawer (although Morocco *could* be). I also agree that they failed to deliver in Morocco, more down to unrealistic targets more than anything else. They also failed to deliver SD on time, again down to unrealistic timescales. I wouldn't call the Egypt or Morocco projects abject failures though. SD appears to be progressing and Morocco is waiting for an increase in demand (which may never come but who knows).

PW's reign was a failure due to his lies. However, SDX have made good discoveries, remained debt free, free from dilution and are funding CAPEX from cashflow and receivables. SD *will* come online at *some* point and it's almost certain more gas will be found in both Egypt and Morocco. Egyptian gas will be sold, Moroccan gas, who knows, although larger reserves allow for more certainty of cashflow in to the future.

Your comment about tinpot assets is a little confusing. Did you feel the very same assets were tinpot when you invested last year? Egypt is a tinpot jurisdiction yes and Morocco doesn't appear to have the demand we thought it might, but are the assets tinpot? Hmm

[ghhghh] 08/7/2019 10:37

tournesol

Thanks for reply, agree assets not top drawer. However SDX have coughed up the infrastructure costs and yet to benefit from increased production. Prospects cheap to drill and high CoS?

Remember that the oil price traded at c. $45 -$50 over 2016, only bounced year end. Deal announced Jan 2017. Hence, whilst the assets are not top drawer, we were still emerging from a bear market. This would have limited buyer interest?

Circle failed because of severe bear market restricting access to funding?

SDX not failed yet, the share price fall more incompetence than assets.

Peel Hunt has mooted SIA, Apache and Transglobe as possible buyers.

[tournesol] 08/7/2019 10:02

I think the talk about being a take-over target is wishful thinking.

The key question is "a target for whom?" Who exactly wants to buy SDX?

Remember that Circle tried to build a business in Egypt and Morocco and failed. It tried to sell its assets but the only buyer who wanted them was SDX. The result was that SDX paid a much lower price than analysts valued the assets at. At the time SDX was itself trading below the analyst valuation of its assets.

What does that tell us? It tells us that Assets in Egypt and Morocco are not in great demand and are not highly valued.

So here we are some time later. SDX has not lived up to its ambitions and has not succeeded in transforming itself and achieving strong growth.

IMHO what that means is that the market will be even less inclined than it was previously to attribute value to the assets which have proved too difficult for 2 successive companies and management teams. If Circle couldn't make things work in Egypt and Morocco and SDX has also tried and failed, why on earth would anyone else want to take them on?

There is no shortage of oil and gas assets on the market. Why go looking for trouble?

If the scale/profitability of the assets were very high that might work as an attractant. But they aren't. To be brutally honest they are tinpot assets which might suit a tinpot buyer. But tinpot buyers are not going to pay very much.

[the drewster] 08/7/2019 09:00

I'd say that there are a few things to be proved up before it becomes a serious target.